Stocks of the Hour: PNX Metals, Buru Energy, Corella Resources

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PNX Metals (ASX:PNX) announced that multiple high-grade gold targets have been identified in their northern exploration leases. In response, PNX Managing Director James Fox said: “The high-grade gold in rock-chips being reported, and assessment of historic data, highlight the potential for further discovery of economically significant gold mineralisation within our existing exploration leases.” Shares are trading 33.3 per cent higher at 0.4 cents.

Buru Energy (ASX:BRU) has announced that they will acquire Origin Energy’s Canning Basin Joint Venture interests. Commenting on the transaction, Chair of Buru Energy, Mr Eric Streitberg said: “The original farmin agreement with Origin provided the funding and the impetus that resulted in the Rafael discovery that has now assumed even more significance given the current focus on the West Australian and international gas markets.” Shares are trading 11.7 per cent higher at 10.5 cents.

Corella Resources (ASX:CR9) announces exceptional sonic drill results at their project. In response, Corella Resources Managing Director, Tony Cormack, commented “The drill hole intercepts achieved by our definitive infill core drilling program at Tampu are nothing short of spectacular. We proudly boast Australia’s largest deposit of bright white kaolin, and we have no equal when it comes to purity.” Shares are trading 11.4 per cent higher at 3.9 cents.
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Source: Finance News Network